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Canadian Tire Corporation Prices Private Placement Offering of Aggregate C$600 Million Unsecured Medium Term Notes
Canadian Tire Corporation Prices Private Placement Offering of Aggregate C$600 Million Unsecured ...
About this update from Canadian Tire Corporation, Limited
[{"type":"text","content":"\n \n \n \n Canadian Tire Corporation Prices Private Placement Offering of Aggregate C$600 Million Unsecured Medium Term Notes\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Sept. 12, 2023\n \n \n /CNW/ - Canadian Tire Corporation, Limited (TSX: CTC) (TSX: CTC.A) (\"CTC\") today announced the pricing of a private placement offering of\n \n C$600 million\n \n aggregate principal amount of unsecured medium term notes, consisting of\n \n C$400 million\n \n aggregate principal amount of 5.372% Series G Unsecured Medium Term Notes due\n \n September 16, 2030\n \n (the \"Series G Notes\") and\n \n C$200 million\n \n aggregate principal amount of Floating Rate Series H Unsecured Medium Term Notes due\n \n September 14, 2026\n \n (the \"Series H Notes\", and together with the Series G Notes, the \"Notes\"). The Series G Notes were priced at par, for an effective yield of 5.372% per annum if held to maturity. The Series H Notes were priced at par and bear interest at a per annum rate of Daily Compounded CORRA plus 1.00% payable quarterly. The offering is expected to close on or about\n \n September 14, 2023\n \n .\n \n \n \n \n \n \n \n \n \n It is expected that the Notes will be rated \"BBB\", with a stable trend, by DBRS Limited and \"BBB\", by S&P Global Ratings.\n \n \n CTC intends to use the net proceeds from the offering and sale of the Notes for the repayment of short-term borrowings and general corporate purposes.\n \n \n BMO Capital Markets, CIBC World Markets and RBC Capital Markets acted as joint bookrunners for the offering of the Notes.\n \n \n The Notes are being offered on a private placement basis in each of the provinces of\n \n Canada\n \n in reliance upon exemptions from the prospectus requirements under applicable securities legislation.\n \n \n \n This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer to sell or a solicitation of an offer to buy any securities in\n \n the United States\n \n ...